1Suppose the demand for good x is QD, - aP, +- BP, and the demand for good y isy21QD, + aP, - BP, . The supply of good t is QS,. a,B,QD,,QS, > 0. Solve for Px' andPy".131(es,-Qd,)-(Qs, - Qd ,) + (Qs , - Qd ,)5B[3Α. PxQs , - Qd ,Заand Py* = +13В. Рх"Qs , - Qd , + (os, – Qd ,)|and Py' = -(os, - Qd , ) + (Qs, - Qd ,)]2a4c. Px' =O +1С. РхOs, - Qd, +1(Qs, -Qd, and Py' =+(Os,-Qd.)+(Os, -Qd,)|4a44Qs , - Qd ̟ + (Os,- Qd,(Qs- - Qd )+ (Qs, - Qd,)3BD. Px*and PyЗа

An equilibrium price in the market is attained at the point where the quantity of commodity demanded…

Suppose the demand for good x is QDx-aP+BP, and the demand for good y is QD,+ aP - BP,. The supply of good 1 is QS₁. a, B.QD,,QS, > 0. Solve for Px* and 2 Py*. A. Px B. Px 1 34 [0₂. X 3α D. Px = = C. Px* = * Os - Od-(0s, -Qd,) and Py = + 1 3 20 [Q₁₁ - Qd₂ + ² (0₁, - Qd₂ )] -Qd, and Py* == y 2α 4 3 3² (0₁₂ - Qd₂ ) + (0s, - Qd,) 5 p 4 3α ↓ [Qs , - Qd, +1(Qs, − Qd,)] and Py` = + 32 | 1 (0s, - Qd₂) + (0s, -Qd₂ )] - 4a 1 Os. - Qd, +- (Os, - Qd₂ ) , and Py y 3 2³38 [1(0s,- Od, ) + (Os, od, )] - 2ß 4 + [ - (0₁₂ - Qd₂ ) + (0₁₂ - Qd₂ )] 3P 2

Suppose the demand for good x is QDx-aP+BP, and the demand for good y is QD,+ aP - BP,. The supply of good 1 is QS₁. a, B.QD,,QS, > 0. Solve for Px* and 2 Py. A. Px B. Px 1 34 [0₂. X 3α D. Px = = C. Px = * Os - Od-(0s, -Qd,) and Py = + 1 3 20 [Q₁₁ - Qd₂ + ² (0₁, - Qd₂ )] -Qd, and Py* == y 2α 4 3 3² (0₁₂ - Qd₂ ) + (0s, - Qd,) 5 p 4 3α ↓ [Qs , - Qd, +1(Qs, − Qd,)] and Py` = + 32 | 1 (0s, - Qd₂) + (0s, -Qd₂ )] - 4a 1 Os. - Qd, +- (Os, - Qd₂ ) , and Py y 3 2³38 [1(0s,- Od, ) + (Os, od, )] - 2ß 4 + [ - (0₁₂ - Qd₂ ) + (0₁₂ - Qd₂ )] 3P 2

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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